Economists have repeatedly said that the biggest issue with Malaga’s businesses is size. The small size of most companies prevents them from being competitive and causes them to miss opportunities. However, data gathered from Andalucía’s Central Balance Sheet Data Office showed that fifteen establishments billed for over 100 million euros in 2014. This pales in comparison to more industrialized provinces like Sevilla but it is certainly a step forward from the previous year, when only nine companies made the cut.
According to the ranking of the 250 highest earning companies, the median income increased for the first time since the economic crisis started. It went from 28,4 million euros in 2013 to a little over 31 million in 2014. Even more shocking is the increased economic stability in the province. The number of businesses in the red has been reduced by 50% between 2012 and 2014. The amount of companies that reported earning more than a million euros also increased from 44 in 2012 to 59 in the last issue.
Currently, the province has the highest number of companies that are considered “highly profitable”, according to the 2016 Finance and Economics Analysis of Andalusia. It seems that the financial stability and business growth will continue to improve in coming years.
